Austin solar projects snag $560,000

Two area solar energy projects have received $560,000 in performance-based funding from the Austin City Council and Austin Energy.

The council OK’d a letter of intent for Austin Energy to provide the two projects with the funds in exchange for energy pushed back into the power grid over a 10-year period.

BAE Systems Inc., a Charlotte, N.C.-based defense, security and aerospace company, will receive $390,000 over 10 years for solar energy produced at its local facility on Tracor Lane. It’s is expected to produce 276,542 kilowatt-hours annually, or enough to power 24 average-size homes in Austin. The incentive will cover 55 percent of the solar facility’s $700,560 cost.

A second incentive of $170,000 over 10 years was approved for the solar field at the Texas Parks and Wildlife Department headquarters on Smith School Road. This installation, already completed, produces enough power to supply 11 average-size Austin homes each year. The incentive will offset 33 percent of the $516,648 cost to the state of Texas.

These two deals are expected to provide Austin Energy with more electricity than from all other performance-based deals over the past two years.

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